The Future of Ethereum: Will the ETH Rate Recover in the Next Year?

In this article we will talk about the future of one of the most important projects in the cryptocurrency industry. At the time, Ethereum played a big role in cryptocurrency popularization. In this article we will discuss the current situation, future prospects and forecasts for future. So let’s get started.

1. Brief overview of the current situation

The whole cryptocurrency market is currently experiencing not the best times. Over the past few days, its total capitalization has fallen by more than $30 billion. And there were changes in the first three of leaders: Ripple took the second place, having overtaken Ethereum more than in 3 billion dollars. The rate of ETH is now 103 dollars, according to CoinMarketCap.

Such a rapid decline is indirectly connected with recent events, namely the hard fork of Bitcoin Cash. We want to remind you, that on November 15, 2018, the BCH blockchain was divided into two chains: BCHABC and BCHSV. You probably wonder, how these events can be interconnected? The fact is that the community of already defunct Bitcoin Cash coin was divided not peacefully. Craig Wright (BCHSV supporter) threatened Roger Ver (BCHABC supporter) with real war. Now both sides need to acquire as much computing power as possible. For this, they need the available funds which they have in the cryptocurrency. Accordingly, they sell their coins to buy mining equipment, which leads to such a drop in rates.

Ethereum has long been surrounded by not the best news background, plus there is a general decline on the market, these all cause such a rapid ETH rate collapse.

2. Large update or what is Ethereum 2.0?

It’s no secret that Vitalik Buterin’s platform is far from ideal, and it has a fair amount of drawbacks: inflation, scalability, throughput, etc. All these factors hinder the project development. Buterin himself and his numerous development team have repeatedly said that the work on large-scale updating of the Ethereum platform is in full swing. But no specifics were cited. And finally, at the Devcon4 conference, which was held in Prague in early November of this year, Buterin made an official statement about the upcoming release of Ethereum 2.0.

What will the updated Ethereum be like? In short, we will finally see the activation of Casper and the long-awaited transition to the Proof-of-Stake consensus algorithm, the EWASM update (virtual machine) and much more. After successful implementation of all these innovations, the network of the Ethereum will be able to process more than 1,000 transactions per second (now this mark is 17), and will also become more secure and energy-intensive.

3. Experts opinion and forecast for 2019

Analysts opinions, as usually, are uncertain: some believe that the project has a great and bright future, others, on the contrary, are confident that rapidly developing competitors (such as EOS, for example) will be able to push Ethereum from the top of CoinMarketCap.

Now the future of the project directly depends on the upcoming network update. If the development team copes with the task, then Ethereum is likely to succeed.

If we talk about an experts forecasts about the price of Ethereum in 2019, it will be pertinently to recall the thoughts of the famous Wall Street analyst Tom Lee. By his opinion, the rate of Ethereum can reach $1,900 in 2019. His forecast is based on historical data, he believes that eth will be able to overcome its historical maximum by approximately 40%.

4. Conclusion

The Ethereum project has long been the “second locomotive” in the cryptocurrency market. The current news background, as well as the general rhetoric addressed to this project, is extremely negative. But in the face of all, Vitalik Buterin made a long-awaited statement about the upcoming release of Ethereum 2.0. The future of the project directly depends on the successful implementation of this update. We can only wish a good luck to the development team and keep track of further development of events.

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The exchange rate of Ethereum has for the first time in the history risen higher than than of the ill-fated Bitcoin Cash. According to the CoinMarketCap the value of Ethereum is almost $86, whereas the cost of BCH dropped to around $82.

The price of Bitcoin Cash has been plummeting down since the infamous hard fork. After the coin split, its exchange rate dropped to around $200 and kept falling. Soon it left the double-digit price range. The hard fork, the hash wars and the overall downward trend of the crypto market has left a large negative impact on this cryptocurrency.

According to the online platform Coingecko, Bitcoin (BTC) added 0.8% over the past 24 hours. The price at the time of writing is $3266 per coin.

The rest of cryptocurrencies tend to fix in the green zone:Bitcoin Cash added 1.98% over the past 24 hours and costs $81 per coin;Ripple lost 0.03% and is $0.29 in value;EOS grew by 2.62%, and its price is $2.01;Litecoin increased by 6.03%, and its cost is $27;Cardano added 1.47%, and its rate is $0.029;Stellar grew by 0.10% and costs $0.097;IOTA dropped by 1.05%, and its cost is $0.24;Dash lost 1.32%, and its price is $64;Monero became more expensive by 1.21% and costs $41.

Over the past 24 hours, Ethereum added 0.49%. The coin rate is $87, according to Coin 360.

The total market capitalization of $104 billion. The share of Bitcoin is 54.8% of the total volume. In monetary terms, this is $57 billion.

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The growing popularity of digital coins, as well as the cryptocurrency trading, was the reason of emergence for the large number of exchanges. There is huge competition on this market segment now. New projects are trying to lure as many users as possible. But there are also time-tested sites that can guarantee a high security level. In this article we will talk about the most secure cryptocurrency exchange, which has been successfully operating for more than 4 years and has a fairly large user base.

1. Briefly about the Bittrex Exchange

Bittrex cryptocurrency exchange was registered in the United States in 2014. Activity of this site is more designed for the American market. But this does not mean that the user base of the project is limited only by traders from USA, Bittrex is also quite popular in Europe and the CIS.

The functionality of the exchange can satisfy not only a novice, but also an experienced trader. The platform have integrates tools, with the help of which you can conduct a deep technical analysis. More than 250 currency pairs are traded on this exchange, which provides ample opportunities for trading. It is also worth noting that there is no possibility of trading with leverage and lending on Bittrex exchange.

2. Trade and order types

At the site, traders have the opportunity to trade both limit and market orders. Market order is intended to buy and sell assets at the current price. Suppose that the BTC rate is $4,200, if this price suits the trader, he opens a market order and makes a deal at the current rate almost immediately.

The limit order is designed to buy or sell an asset at desired, rather than actual rate. For example, the BTC rate is still equal to $4,200, but the trader wants to make a purchase only when the BTC price drops to $4,000. In order to avoid sitting at the trading terminal following the BTC rate, trader can open a limit order. When the asset`s actual price matches the value indicated by the trader, the limit order will automatically close.

3. Deposit and withdrawal of funds

It is important to know that this platform works exclusively with cryptocurrencies and it is impossible to replenish your account with fiat. But nowadays this is not a particular problem, because it is possible to buy Bitcoin on a huge number of exchangers now. One may replenish deposit on Bittrex exchange without any special problems, but in order to use the full functionality, it`s necessary to pass the verification procedure. And this is two kinds:

Elementary. The user is required to provide with his full name, date of birth and address of residence. Reliability of information is verified by using social media accounts or other open sources.

Advanced. In order to withdraw more than 4 BTC per day (or the dollar equivalent in any other coin), one must provide copies of official documents and selfie with the passport. For residents of the CIS countries, this can be a problem, because only an international passport suitable for verification, and not all possess it.

4. Bittrex Exchange Commissions

This site cannot boast with very low commissions, but it is also impossible to call them high.Bittrex charges 0.25% of the total amount for each transaction. The exchange may set a special terms for regular traders, but these figures are individual and depends on turnover and single user’s trading time.

5. Advantages and disadvantages of Bittrex exchange

Bittrex has its strengths and weaknesses as well as any service. In order to objectively evaluate this site, let’s talk more about its advantages and disadvantages.

Advantages:

Bittrex activity is officially regulated in the United States. This means that traders are fully protected from the possible misconduct from owners of the exchange. But for residents of other countries (except the US), the official regulation, basically, does not give anything.

The ability to go through the verification procedure by using a minimum set of documents (compared to other exchanges).

Simple and clear system of fees (0.25% of transaction amount, which is average in the market).

Support for a large number of altcoins (including very rare ones), which opens a broad opportunities for users.

Enhanced security. The creators of the exchange as a loke call themselves paranoid, as they store about 90% of client funds exclusively in cold wallets.

The absence of any restrictions and limits on account replenishment.

Disadvantages:

Inability to trade with leverage, as well as lending.

Lack of referral programs, as well as motivation systems for new users.

Very slow customer service. Some questions may remain unanswered for several weeks.

6. Conclusion

Bittrex is the safest cryptocurrency exchange in the industry. For all the years of its work this site has not been subjected to a single attack. Almost 90% of user funds are stored in cold wallets. This level of security is the main advantage of this site. Another undoubted advantage of Bittrex is its official status in the United States.

The fact is, that the activity of the exchange is regulated by authorities, which legally protects users from possible illegal actions of the site owners. But it should be said that the other countries residents will have to go to the United States to resolve any issues in a court, which requires substantial financial expenses.

Bittrex charges a fixed commission, which is equal to 0.25% of transaction`s amount, this is the average for the market. This exchange is a good tool for conducting balanced trading, as it does not support margin trading. Bittrex cannot boast with quality customer support.

Based on the foregoing, we can say that this project certainly deserves attention. All the minor flaws of Bittrex are compensated by its merits, especially the security level.